01202017Fri
Last update: Fri, 20 Jan 2017 06am

Asia

Markets - Commodities - Asia

India MUMBAI: India's tea production in October fell 9.7 percent from a year earlier to 147.64 million kg as plucking dropped in top producing north-eastern state of Assam, the state-run Tea Board said in a statement.  Assam produced 84.72 million kg of tea in October, down 12.5 percent from the year-earlier period, the Board said.  India, the world's second-biggest tea producer, exports CTC (crush-tear-curl) grade mainly to Egypt, Pakistan and the UK, and the orthodox variety to Iraq, Iran and Russia.     Copyright Reuters, 2016 ...

Markets - Commodities - Asia

China HONG KONG: China's yuan firmed slightly against the dollar on Monday, buoyed by last week's purchases by state-owned banks, stricter controls on funds flowing overseas and tighter liquidity in onshore and offshore money markets.Reiterations from Chinese officials that the yuan should be kept stable also reinforced perceptions that authorities were intent on trying to stabilise the currency against the dollar for now, after it recently plumbed more than 8-year lows."It is very expensive to short the yuan in offshore markets now ...

Markets - Commodities - Asia

Palm posts sharpest rise in a week on lower output, stronger Dalian         KUALA LUMPUR: Malaysian palm futures rose in early trade on Monday posting their sharpest gain in a week and on track for a second winning session as lower output and stronger rival oils on China's Dalian Commodity Exchange aided market sentiment.Benchmark palm oil futures for February delivery on the Bursa Malaysia Derivatives Exchange rose 0.9 percent to hit an intraday high of 3,104 ringgit ($698) a tonne at the midday break, palm's strongest since Nov. 28.Traded volumes stood at 13,641 lots ...

Markets - Commodities - Asia

TOCOM jumps to 1-week high on strong China data, Shanghai surge TOKYO: Benchmark Tokyo rubber futures jumped about 4.5 percent on Monday, hitting a one-week closing high, as a strong economic indicator in top buyer China and firmer Shanghai rubber futures prompted a flurry of buys, dealers said."Healthy number in China's purchasing managers' index (PMI)   helped bolster market sentiment," said Satoru Yoshida, a commodity analyst with Rakuten Securities."The Tokyo market also tracked Shanghai's rally, which was backed by continued speculative buys."Growth in China's services sector accelerated to a 16-month high in November, a private ...

Markets - Commodities - Asia

Shanghai copper rises on the back of oil rally      SYDNEY: Shanghai copper futures climbed nearly 2 percent on Thursday, recovering some of the previous session's steep losses, as a rally in oil prices filtered through to other commodities.  OPEC agreed on Wednesday to its first oil output cuts since 2008, driving up crude prices by around 10 percent."Industrial metals were stronger, spurred on the by the gains in the energy sector," ANZ bank said in a note, although it cautioned the oil-inspired rally could soon top out.Higher oil prices ...

Markets - Commodities - Asia

Palm reverses course to rise, tracking crude oil rally KUALA LUMPUR: Malaysian palm futures reversed course to gain in late trade on Wednesday as they tracked a rally in crude oil prices, following stronger prospects that oil supplies could be cut.Saudi Arabia's energy minister said at a meeting of the Organization of the Petroleum Exporting Countries an agreement among members to cut output was close. "Crude oil rallied as OPEC nears a deal to cut supplies," said a palm oil trader from Kuala Lumpur, explaining palm's price gains in the ...

Markets - Commodities - Asia

Palm gains for sixth straight session on tight supplies, bullish forecasts KUALA LUMPUR: Malaysian palm futures rose on Monday for a sixth straight session, helped by tight supplies and price forecasts by leading analysts at an industry conference on Friday.Benchmark palm oil futures for February delivery on the Bursa Malaysia Derivatives Exchange were up 1.5 percent to 3,077 ringgit ($689.91) a tonne at the end of the trading day. Traded volumes stood at 38,737 lots of 25 tonnes each, below the 2015 daily average of 44,600 ...